Head of the IMF mission’s (term) interest peg to the dollar rather than a large reduction of the Iraqi economy
Baghdad / Zahraa Al-Jassem Being talked at length between the economic circles, whether legislative or specialized for what the International Monetary Fund for Iraq loans and its usefulness out of the current financial crisis in the aftermath of the decline in global oil prices, Sometimes some people talk about being open field ahead of us to get the facilities and loans and support for international financial organizations and countries major, in accordance with the international financial umbrella obtained by Iraq , up nearly 20 billion dollars, with what he sees others that borrow from the fund is very important for Iraq but also strengthens its position externally in terms of financial transactions, and sometimes others were skeptical of this argument, pointing out that, loans would not But the burden of borrowed state financial obligations and Tkplha debts for many years, with the facts that can not be overlooked after the repercussions of the occupation of Daesh for a number of Iraqi cities , and his successor from the huge numbers of displaced people and the destruction of the infrastructure of those areas, requiring reconstruction after liberation, not to mention the costs of these the war that no one can yet appreciated.
`Read More: http://dinarupdates.com/blog/
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“Flash Cast LIVE” session Sun afternoon w/BGG
Click here for Video Replay
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Kaperoni (Dinar Guru) – Delegation from US Congress visiting Iraq says…”Iraq on the verge of a big boom.”
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Loop (Dinar Guru) – Article: “Head of the IMF mission’s (term) interest peg to the dollar rather than a large reduction of the Iraqi economy” The head of the IMF mission in Iraq is answering questions. THe IMF is saying that to decrease the value of the dinar against the dollar would only lead to inflation and that the CBI has the needed reserves to support the economy. [we certainly dont want it devalued any more.] It won’t. THere is no reason for it. Their economy is expanding so why on earth would the throw it into reverse? Just like I do not think a float is going to happen. They also are saying that there is no issue with the debt that they have taken on to support the country as long as the follow the process as outlined in the SBA.
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BGG (Dinar Guru) – The BIGGEST article of the day… “Director of the Issuance Department of the Central Bank: Printed currency volume exceeds 11 billion and 600 million dinars” (the title is a little weak for the content of the article)…the title should have read RV- RV- RV!! Quote: “Most of the Iraqi Central Bank steps are subject to political and legal environment of the country, especially in regard to the deletion of zeros…” …this is what you are after – EXACTLY. PERIOD. it’s isn’t a removing of the 000 from the notes…it isn’t a changing of the DECIMAL POINT…it isn’t a change in the nominal value…IT’S A CHANGING OF THE REAL VALUE and A BRINGING IN OF THE BIG NOTES… “…deleting the big 000 notes from the market place” = RV. [post 1 of 2….stay tuned]
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BGG (Dinar Guru) – …they have no intent on bringing out any bigger note classes – THEY DON’T NEED IT… value is going the other way…nowhere in there does it mention Article 140 – HCL – or anything else… nor does it bother to mention any laws needing passed… just a few changes. (aka – AMENDMENTS) [Also key phrase is “where it should be FOLLOWED by” Meaning the laws should be changed AFTER.] BINGO! money first – laws AFTER! why? They need to get this done now! This is about as much heads up as they are willing to give anyone…if they change the laws ahead of time – EVERYONE WILL KNOW. BIGGEST PIECE YET…here it comes… “On the other hand, the technical preparations are underway by us.” Meaning – on the other side of everything he’s said so far… they are and have been already making technical preparations (by the CBI). Pretty plain – if you ask me…pretty huge news... [post 2 of 2]
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Dinar Updates – “NEWS TIME” w/MadDScout & Facebook Crew – April 13th 6:30pm CST – In the DU CHAT Room!!
www.DinarUpdates.com – save as favorite
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MadDScout (Dinar Guru) – Article: “Rasheed Bank directs its branches to open documentary credits to public and private sector companies” Another way of getting business used to the banks. There is gobs of banking reform news out there. ...it has not always been this way. These are the many gears that are turning So to ask about hold ups is to not have a good grasp on what this whole situation encompasses.
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Delta (Dinar Guru) – MASTERCARD SHOWING IQD NOW. 1 IQD = 0.000888 USD. ANOTHER ONE IS SHOWING NOW BLOOMBERG…COME ON CBI JUST DO IT.
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MadDScout (Dinar Guru) – [As we look for signals of a rate change coming, are there any similarities we can find with other countries who have been through this?] …I would say this is a very unique situation, as compared with other countries situations, and as BGG put’s it, “there is no actionable intel”.
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Director of the Issuance Department of the Central Bank: Printed currency volume exceeds 11 billion and 600 million dinars
Most of the Iraqi Central Bank steps are subject to political and legal environment of the country , especially in regard to the deletion of zeros that counted specialists in the earlier trend sensitive and dangerous may still be , but the central remains the most important institution in terms of the need to adjust the financial management in light of the financial crisis experienced by the the Iraqi economy, which must have to deal with dilemmas , whether with regard to the citizen or the work of the central bank itself.
Read more: http://www.dinarupdates.com/blog/
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1bobby (Dinar Guru) – Article: “Office: Abadi agreed with the delegation of the Kurdistan Region to remove obstacles that prevented the activation of Article 140” The infamous Art 140 is in the Constitution, just not activated and or implemented. Now 140 does not cover all of Iraq, just Kirkuk and the disputed territories, Kikuk being ground zero. With Abadi agreeing to remove all obstacles to implement 140 is a HUGE step forward and something the Kurds can work with. Now while there are numerous cities/districts covered under 140, Kirkuk is the main concern. Kirkuk sits atop one of the largest oil reserves in Iraq, most reports estimate over 40 billion barrels of oil. …If Abadi is willing to remove the obstacles, then the Kurds will control Kirkuk. This action does not require a Parliamentary vote since it’s already in the Constitution. What Baghdad wants is what the constitution states “All oil within Iraq belongs to all Iraqi’s“…So if the Kurds get what they want, Baghdad will want all oil proceeds to flow thru Baghdad and then %’s will be distributed accordingly. We’ll just have to let this play out and see what they do, not what they say.
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MadDScout (Dinar Guru) – [What’s left before NEEDED to be taken off programmed rate?] Answer: That is what we are watching for. But from CBI (Alak’s) view, they are looking for stability…social, political, economic, security, take your pick as to how much of each of those goes into the criterion they are looking toward.
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Kaperoni (Dinar Guru) – Article: “The call for legislation of “important” laws before the end of the parliamentary session” Quotes: “The oil and gas laws, the Reconstruction Council, the Federal Service Council and the Federal Court Act, as well as the amending law of the amnesty law, are among the most outstanding laws that should be resolved as soon as possible,” the bloc said in a statement.” “noting that “the need to resolve to see the light soon.” …the only wildcard is if the US, UN etc get involved. We have seen in the past when something must be passed, it is done so with a little pressure. If the doors are ready to open, be assured what law or laws need to be passed will get done.
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Iraqi Dinar/Dollar auction 04-11-17 (most recent listing)
Currency Auctions Announcement No. 3420
This daily currency auction was held in the Central Bank of Iraq on the 04-11-2017
The results were as follows:
| DETAILS | NOTES |
| Number of banks | 34 |
| Number of remittance companies | 11 |
| Auction price selling dinar / US$ | —– |
| Auction price buying dinar / US$ | —– |
| Amount sold at auction price (US$) | 160,323,302 |
| Amount purchased at Auction price (US$) | —– |
| Total offers for buying (US$) | 160,323,302 |
| Total offers for selling (US$) | —– |
More: http://dinarupdates.com/blog/
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MadDScout (Dinar Guru) – [We have always heard when article 140 and HCL are put into place and activated we should see the rate within hours of implementation. We know Mosul is a key part. Can they implement HCL and Article 140 on a program rate?] Answer: That theory is old and unfounded, and tends to put events in the wrong order, according to what we know right now. Being as this is never mentioned in any of Alaks statements when asked about what the CBI needs to make full monetary reforms, I have put it out of my vocabulary. As to the third part of your question, can they implement 140 at program rate, I think it is so far in the future (Art140) they will have a “rate” by then. But IMO one doesn’t equal the other. They are stand alone issues, unhinged one from another. Rate is only important to us.
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Kaperoni (Dinar Guru) – Article: “Abadi: Two months separating Iraq’s exit from Chapter VII” [It would seem that Iraq’s removal of Chapter 7 would occur before the dinar becomes marketable and begins to float…] …though it’s important for Iraq to have it’s own currency once sovereign, I do not think they are directly related. When the dinar floats is a more of a decision of the CBI based on monetary policy. IMO, I do not expect it to begin until just before foreign investment begins to pour into Iraq.
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Baghdad Says U.S. Pledges Continued Support for Iraq’s War Against IS
BAGHDAD (Reuters) – U.S. Vice President Mike Pence on Saturday assured Iraqi Prime Minister Haider al-Abadi of continued U.S. support to defeat Islamic State, the Iraqi government said in a statement.
The two discussed the situation in Syria and the war on Islamic State in a phone call from Pence following Friday’s U.S. strikes on a Syrian airbase to punish a chemical attack that killed scores of civilians this week in an area held by the opposition to Syrian President Bashar al-Assad.
Read more: http://www.dinarupdates.com/blog/
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Frank26 (Dinar Guru) – We are in the next step of the monetary reform… many asked why they were putting more IQD’s …more 3 zeros back into the market in Iraq? We never said they were putting 3 zeros back into the market, we said they were putting dinars back into the market to accomplish: #1 – MCP – elimination of the USD’s. #2 – to educate the citizens. It’s NOT the value of the notes thats important…IT’S THE NOTE COUNT …remember ONE 50k note …would be equivalent to FIVE 10k notes…One 50k note…that they bring into the bank…because they are going to get it as “pay” – they would have to bring back FIVE 10k notes…would they not? [Reducing the note count] So what about your 3 zeros notes? Your 3 zero notes are going to the FEDS. It’s internally. That is where the monetary reform (MR) is now.
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Frank26 (Dinar Guru) – The goal is to de-dollarize the markets of Iraq. This will occur by doing 1,000 to 1…which IMO…is going on right now. When they do change the EXCHANGE RATE…to show 1 to 1…YES! …at that time, they will introduce more dinars…but guess what kind? The LOWER-DENOMS. Not the 50k they are using in their pay. This process will be concurrent – (at the same time). We never said they were putting Iraqi notes back into the market. This process is to take those notes away from the market. You will NOT see this 1,000 to 1 on the CBI website…it is 1 to 1 that you will see someday on the CBI website …IMO…that is VERY CLOSE …right around the corner…because they are doing 1,000 to 1 right now.
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A Dinar Updates “FaceBook Live”!!
“LIVE Q&A with BGG”
from – Apr 7th
In the DU FaceBook Group!!
https://www.facebook.com/groups/571383766355188/
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Adam Montana (Dinar Guru) – […are we just pretty much waiting on the total liberation of Mosul or what? I know, I know…the HCL must be passed and all that, but it seems as if Mosul is a real turning point?] Total liberation of Mosul? No sir, I do not believe Mosul will ever be totally liberated, nor will ISIS/ISIL/(Or Any Other Terror Group) be completely “eradicated”. The “war on terror” will never be “won”, we can only hope to keep it at a “manageable level”, and I believe we are pretty close to achieving that already, if not completely done achieving it.
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Frank26 (Dinar Guru) – […just want to make sure I understand correctly…any country in history that went through a currency reval… redenom…etc. always revealed their 1000:1 exchange rate. However, this time, with Iraq, we will NOT be seeing the 1000:1 exchange rate. We’ll see the 1:1 at its appropriate time. Correct?] IMO…Yes.
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Adam Montana (Dinar Guru) – […are you still as positive this week about the HCL being implemented as you were a few weeks ago?… and can Iraq change the rate anytime they want throughout the year or does it have to be done by the first quarter?] Absolutely yes! And they can do this any time they want, there are absolutely no real restrictions. “Any given Sunday”, as they say… or Monday, Tuesday, etc. [Do you think is possible to see an RV in 2017…] YES, emphatically so!
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Safe Zones As Soft Military Occupation: Trump’s Plan For Syria, Iraq Is Taking Shape
The Trump administration is moving closer to its goal of creating “safe zones” within Syria. Though this strategy may be described as a humanitarian effort, the sizable increase in military presence that it will bring looks more like an invasion in disguise.
Read more: http://www.dinarupdates.com/blog/
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Kaperoni (Dinar Guru) – “REPORT: Is the Iraqi dinar Recovering?” Quote: “With the economic boom led by the oil industry in Iraq, the national currency will rise eventually to reflect the true value of the oil indispensability of the country. It is likely to happen up when the central bank raises the value of the dinar.” Nice to hear them talk about the potential and process for the dinar. That being said, Iraq has not passed a significant law in quite a while even though many have called for them to do so. Yes, the banking system has made progress the last year under the guidance of the IMF, but it’s time Iraq does it’s part and pass the laws, to create the environment for investment. Then we shall see what happens.
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Loop (Dinar Guru) – Article: “Iraq: Confidence is in the Air” Quotes: “…there was a strong sense that Iraq’s fortunes are turning a corner…” “Confidence has returned to Baghdad — it is in the air! Baghdad is confident again, and it’s absolutely wonderful.” The IBBC (Iraq Britain Business Council) Spring Conference has started.
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Positive for the development of Iraq’s future outlook will have a positive impact among investors
Economy News / translation …
A report of the Network (CNBC) American that confidence expressed by Fitch International Foundation bisect the credit of the Iraqi economy last month, which will have a positive impact on investment in Iraq.
Network wrote in its report that Fitch gave Iraq rating B + with a positive outlook for the future, which believes it will be stable, although it is fighting a war against (Daesh).
She added that Fitch placed Iraq at the level of B + due to political risks and instability caused by conflicts going through.
Read more: http://www.dinarupdates.com/blog/
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Abadi: Iraq is moving toward stability and community reconciliation
Iraqi Position Network Iraqi Prime Minister Haidar al-Abadi said Sunday that Iraq is moving toward stability and community reconciliation and that the country has enormous potential for investment.
“The Iraqi position” on the need for institutional reform of the state and create jobs for new energies in the country.
He pointed out that the Iraqi budgets during the past years have accumulated with the growth and growth of the population throughout the country, so that the population will double in Iraq in a quarter of a century and will double the need for energy, “electricity and oil” over the next 15 years.
Al-Abbadi explained that Iraq is running for energy and that we seek to benefit from every barrel of oil and every torch of gas burned, declaring that the five-year plan is no longer sufficient and reliable for production because of the ongoing wars, which led to the decline of economic growth, the budgets of Iraq can no longer be sufficient to meet and cover The cost of current population growth.
Read more: http://www.dinarupdates.com/blog/
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